U.S. stocks ricochet back for a second day after benchmark indexes reached records on Monday, led by industrial and energy shares amid a drop in oil prices.
Alcoa Inc. dropped 4.8% as industrial companies paced declines among nine of 10 groups in the Standard & Poor’s 500 index. Energy companies in the benchmark lost 0.8% after data showing rising oil supplies.
The S&P 500 declined 0.5% to 2,096.47 at 11:58 am in New York. The Dow Jones Industrial Average lost 109.20 points, or 0.6%, to 18,094.17. The NASDAQ Composite Index fell 0.3%.
Insights about U.S. Stocks that are active during the current trade, are depicted underneath:
Cheniere Energy, Inc (NYSEMKT:LNG)’s shares declined -3.06%, and is now trading at $78.95. The Stock is active as 2.79M shares changed hands versus its average volume of 2.81M shares.
Cheniere Energy, Inc. declared that it has priced an offering of Cheniere’s 4.25% Convertible Senior Notes due 2045 through an SEC registered direct offering. The aggregate principal amount of the offering was $625 million. The Convertible Notes will bear interest at a rate of 4.25% per annum, paid semi-annually in arrears, and will mature on March 15, 2045. Preceding to December 15, 2044, the Convertible Notes will be convertible upon the occurrence of certain conditions, and on and after such date will become freely convertible. The Convertible Notes will be convertible into the ordinary stock of Cheniere at an initial conversion price of $138.38 per share, which represents about 170% of the last stated sale price of the ordinary stock of Cheniere on Tuesday, March 3, 2015. Under certain conditions, Cheniere may have the ability to terminate the conversion rights of all or part of the Convertible Notes. In addition, after March 15, 2020, Cheniere may elect to redeem all or part of the notes at a redemption price equal to the accreted amount of the notes to be redeemed, plus any accrued and unpaid interest up to but not including the redemption date.
The net proceeds to Cheniere from the offering of the Convertible Notes, net of any original issue discount, are predictable to be about $500 million, before transaction fees and expenses. The net proceeds will be used by Cheniere for general corporate purposes.
Closing is predictable to occur March 9, 2015 subject to customary closing conditions. Conpresently with closing, Cheniere will have reached a base indenture and a supplemental indenture following which the Notes will be issued.
Lazard Frères & Co. LLC acted as placement agent in connection with the offering of the Convertible Notes.
Cheniere Energy, Inc. is a Houston-based energy corporation primarily engaged in LNG-related businesses, and owns and operates the Sabine Pass LNG terminal and Creole Trail Pipeline in Louisiana. Cheniere is pursuing related business opportunities both upstream and downstream of the Sabine Pass LNG terminal.
Brocade Communications Systems, Inc (NASDAQ:BRCD), raised 1.53%, and is now trading at $12.59. The Stock is active as 2.89M shares changed hands versus its average volume of 5.84M shares.
Today, Brocade Communications Systems, Inc. declared that it has accomplished its attainment of the assets of the SteelApp business unit from Riverbed Technology (NASDAQ: RVBD). The addition of the SteelApp product line strengthens Brocade’s software networking portfolio for New IP data center deployments.
SteelApp is one of the top virtual ADCs providing scalable, secure, and elastic delivery of enterprise, cloud, and e-commerce applications. The SteelApp product line controls traffic to and from applications and enables fast, reliable, and secure application delivery to users anywhere from the cloud or data center.
SteelApp and SteelApp Firewall development and field personnel will join Brocade after closing.
Brocade (NASDAQ: BRCD) networking solutions assist the world’s leading organizations transition smoothly to a world where applications and information reside anywhere.
Chesapeake Energy Corporation (NYSE:CHK), dipped -3.09%, and is now trading at $15.70, hitting new 52-week low of $15.57. The Stock is active as 7.23M shares changed hands versus its average volume of 16.51M shares. The company holds the book value per share of 20.97, whereas cash per share is 6.20. Price to book value is estimated to be 0.77, while price to sale value is 0.51. Analysts mean recommendation for the stock is said to be 2.60 (where 1=Buy, 5=sale).
Chesapeake Energy Corporation engages in the attainment, exploration, and development of properties for the production of oil, natural gas and natural gas liquids (NGL) from underground reservoirs in the United States.
TriNet Group Inc (NYSE:TNET), dwindled -11.72%, and is now trading at $33.44. The Stock is active as 3.76M shares changed hands versus its average volume of 306,379.00 shares.
TriNet Group Inc., a leading provider of a comprehensive human resources solution for small to medium-sized businesses, declared financial results for the fourth fiscal quarter and year ended December 31, 2014.
Fourth quarter highlights comprise:
- Total proceeds raised 25% to $603.7 million and Net Service Proceeds raised 4% to $126.9 million from the same period last year.
- Total WSEs at December 31, 2014 raised 25% from December 31, 2013, to about 288,000.
- Net revenue was $7.0 million, or $0.10 per diluted share, contrast to net revenue of $6.0 million, or $0.11 per diluted share, in the same period last year.
- Adjusted Net Revenue was $19.2 million, or $0.26 per diluted share on a pro forma basis, contrast to Adjusted Net Revenue of $17.1 million, or $0.24 per diluted share on a pro forma basis, in the same period last year.
- Adjusted EBITDA was $40.1 million, an 8% decrease from the same period last year.
- Full year highlights comprise:
- Total proceeds raised 33% to $2.2 billion and Net Service Proceeds raised 21% to $507.2 million from fiscal 2013.
- Net revenue was $15.5 million, or $0.22 per diluted share, contrast to net revenue of $13.1 million, or $0.24 per diluted share, in fiscal 2013.
- Adjusted Net Revenue for fiscal 2014 was $74.4 million, or $1.03 per diluted share on a pro forma basis, contrast to Adjusted Net Revenue of $57.5 million, or $0.81 per diluted share on a pro forma basis, in fiscal 2013.
- Adjusted EBITDA was $165.3 million, a 22% raise from the same period last year.
TriNet is a leading provider of a comprehensive human resources solution for small to medium-sized businesses, or SMBs. We enhance business productivity by enabling our clients to outsource their human resources, or HR, function to one planned partner and allowing them to focus on operating and growing their core businesses.




